German Finance Minister Lars Klingbeil stated that discussions regarding a possible extension of European Central Bank President Christine Lagarde’s term are currently only speculative. Germany intends to play an active role in the process of selecting a successor when the issue becomes relevant.

Speaking in Frankfurt, Klingbeil noted that the government will promptly address the question of succession and form a unified position on the matter. As the federal government, Germany will play a significant role in determining the candidate for the ECB presidency once Lagarde’s term comes to an end.